3-10-2023 (NEW YORK) On Monday, the civil fraud trial involving former US President Donald Trump commenced in New York, and it quickly turned into a contentious battle. New York’s attorney general, Letitia James, is seeking hefty fines and long-term bans on Trump and his sons from running businesses in the state. The allegations against Trump revolve around accusations of inflating his assets and net worth between 2011 and 2021 to secure bank loans and lower insurance premiums.
The trial opened with Trump’s fiery accusations against both Letitia James and Judge Arthur Engoron, whom he called partisan Democrats using the case for political interference. Trump alleged that the trial was a sham and a political vendetta against him.
The crux of the case lies in the claim that Trump materially overvalued assets, including his Trump Tower penthouse in Manhattan, Mar-a-Lago estate in Florida, office towers, and golf clubs, inflating his wealth by as much as $2.2 billion. New York prosecutors have described these actions as “not business as usual” and “not victimless crimes.”
Christopher Kise, a lawyer for Trump, countered that Trump’s financial dealings were entirely legal, stating that Trump had made his fortune through sound real estate investments, emphasizing there was no intent to defraud.
As the trial commenced, Trump sported a dark blue suit, a blue tie, and an American flag pin on his lapel. He entered the courtroom characterizing the case as “a continuation of the single greatest witch hunt of all time.”
Despite last week’s ruling by Judge Engoron, which found Trump and his companies liable for fraud, the trial is set to address six additional claims, including falsifying business records, insurance fraud, and conspiracy. It will also determine the extent of penalties the defendants should pay.
The trial will be closely watched, as Trump faces several other legal challenges, making him the first sitting or former US president to face criminal charges. These legal troubles include cases related to his efforts to overturn the 2020 presidential election, handling classified documents, and hush money payments to a porn star. Trump has consistently denied any wrongdoing and pleaded not guilty.
The trial is expected to run until early December, with more than 150 potential witnesses, including former Trump lawyer Michael Cohen, who may testify. Much of the trial may revolve around expert opinions on financial documents.
